🇵🇹 Daily Portugal news for expats & investors — FREE Subscribe
Sign in Subscribe

Energy

EDP's Q1 2026 Net Profit Falls 12% to €378 Million on a Lower Iberian Wholesale Tape — But Stilwell Lifts Full-Year Guidance 5% to €5.2 Billion EBITDA and €1.3 Billion Profit, and Closes the Door on Miranda Sarmento's Windfall Tax

EDP's Q1 2026 Net Profit Falls 12% to €378 Million on a Lower Iberian Wholesale Tape — But Stilwell Lifts Full-Year Guidance 5% to €5.2 Billion EBITDA and €1.3 Billion Profit, and Closes the Door on Miranda Sarmento's Windfall Tax

EDP Q1 2026 net profit fell 12% to €378M on lower Iberian wholesale prices; recurring profit rose 9% to €399M. Stilwell raised 2026 EBITDA guidance 5% to €5.2 billion and net-profit guidance to €1.3 billion. Management closed the door on Miranda Sarmento's windfall tax.
The Portugal Brief
REN's Q1 2026 Net Profit More Than Doubles to €36.2 Million on a Storm-Hit Comparison Base — EBITDA Up 11.1% to €143.2 Million as Chile Contributes, CESE Gas Levy Disappears and Electricity Demand Hits a 14.6 TWh First-Quarter Record

REN's Q1 2026 Net Profit More Than Doubles to €36.2 Million on a Storm-Hit Comparison Base — EBITDA Up 11.1% to €143.2 Million as Chile Contributes, CESE Gas Levy Disappears and Electricity Demand Hits a 14.6 TWh First-Quarter Record

REN booked Q1 2026 net profit of €36.2 million, up 150.7% on the storm-hit Q1 2025 base. EBITDA rose 11.1% to €143.2 million, capex fell 29.9%, and electricity demand hit a 14.6 TWh first-quarter record. CESE-gas elimination added €10M of tax relief; Portgás CESE-2022 ruling added another €4.1M.
The Portugal Brief
Quercus, Gardunha Sul and Five Other Movements Stage a 13:00 Protest at APA's Castelo Branco HQ Over the Beira and Sophia Mega-Photovoltaics — 525 Hectares Already Carry a Negative DIA, Sophia's 425,600 Modules Still Under Analysis

Quercus, Gardunha Sul and Five Other Movements Stage a 13:00 Protest at APA's Castelo Branco HQ Over the Beira and Sophia Mega-Photovoltaics — 525 Hectares Already Carry a Negative DIA, Sophia's 425,600 Modules Still Under Analysis

Seven civil-society movements gathered at the APA delegation in Castelo Branco at 13:00 on 6 May to demand transparency on two contested mega-solar projects — the Beira plant (525 ha, already with a negative DIA) and Sophia (390 ha, 425,600 modules) — both straddling four Beira Baixa municipalities.
The Portugal Brief
EDP Renováveis Posts a 36% Q1 Profit Jump to €70 Million on a US-Led Recovery — Capex Cut Almost in Half to €324 Million as Stilwell Steers a Tighter 2026 Capacity Year

EDP Renováveis Posts a 36% Q1 Profit Jump to €70 Million on a US-Led Recovery — Capex Cut Almost in Half to €324 Million as Stilwell Steers a Tighter 2026 Capacity Year

EDPR's Q1 2026 results land at €70 million net profit, up 36%, with €489 million recurring EBITDA and 20.5 GW of installed capacity. The number behind the headline is the capex cut — investment falls roughly 50% from €610M to €324M as the group reweights toward US growth at lower opex.
The Portugal Brief
Maria da Graça Carvalho Pre-Announces a Plan to 'Substantially Reduce' Portugal's Fossil-Fuel Dependence — 80.7% Renewables Electricity Already, ZAER the Operative Lever, Heavy Transport, Maritime and Aviation in the Renewable-Liquid-Fuels Channel

Maria da Graça Carvalho Pre-Announces a Plan to 'Substantially Reduce' Portugal's Fossil-Fuel Dependence — 80.7% Renewables Electricity Already, ZAER the Operative Lever, Heavy Transport, Maritime and Aviation in the Renewable-Liquid-Fuels Channel

Maria da Graça Carvalho says the government will present 'very soon' a plan to substantially reduce Portugal's fossil-fuel dependency. With 80.7% of January electricity already renewable, the gap is transport and industry. ZAER zones are the lever — e-fuels the channel for ships and aviation.
The Portugal Brief
Miranda Sarmento Confirms a Special Tax on Energy Companies' Extraordinary Profits — Government Will Calibrate the 2022 Contribuição Solidária Temporária Template and Walk a Bill Into Parliament 'A Breve Trecho' as Hormuz Lifts Diesel Past €2/L

Miranda Sarmento Confirms a Special Tax on Energy Companies' Extraordinary Profits — Government Will Calibrate the 2022 Contribuição Solidária Temporária Template and Walk a Bill Into Parliament 'A Breve Trecho' as Hormuz Lifts Diesel Past €2/L

Finance Minister Joaquim Miranda Sarmento confirmed on Tuesday a special tax on energy companies' extraordinary profits, calibrating the 2022 Contribuição Solidária Temporária template to the Hormuz fuel-price spike. Rate and revenue 'premature'; bill to Parliament 'a breve trecho'.
The Portugal Brief
Diesel Up 10 Cêntimos and Gasoline 95 Up 6.5 Cêntimos at the Pump From Monday — €1.993/L Gasolina and €2.055/L Gasóleo Simples on a Hormuz-Tracking Brent Tape, Portaria 204-B/2026 Adds 1.5 Cêntimos of ISP Discount on Diesel

Diesel Up 10 Cêntimos and Gasoline 95 Up 6.5 Cêntimos at the Pump From Monday — €1.993/L Gasolina and €2.055/L Gasóleo Simples on a Hormuz-Tracking Brent Tape, Portaria 204-B/2026 Adds 1.5 Cêntimos of ISP Discount on Diesel

Pump prices for 5-10 May lift gasolina 95 to a national average €1.993/L and gasóleo simples to €2.055/L. Portaria 204-B/2026 (effective 4 May) raises the diesel ISP discount to 7.54 cêntimos/L. Brent's $114→$126 Hormuz move is the driver.
The Portugal Brief